North Clarendon, Vermont Property Taxes
The median property tax rate in North Clarendon, VT is 1.74%, considerably higher than the national median of 0.99% but lower than the Vermont state median of 2.11%. With the median home value in North Clarendon being $168,300, the typical annual property tax bill reaches $2,391, which is below the national median of $2,690. Property taxes in North Clarendon are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding North Clarendon's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of North Clarendon or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
North Clarendon, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.74%
Estimate Property Tax Bill
$2,928
Ownwell’s North Clarendon Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in North Clarendon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Clarendon to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across North Clarendon, Vermont
Property taxes in North Clarendon, Vermont, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Clarendon is 1.74%, significantly higher than both the Vermont state median and the U.S. national median of 0.99%. Local government entities within North Clarendon set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Clarendon estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares North Clarendon's effective property tax rate to other areas in Vermont and the national median. For comparison, the zip code 05759 has the highest median property tax rate of 1.74%, while the same zip code also has the lowest median tax rate of 1.74%. Understanding how these areas compare with North Clarendon provides valuable insights into the varying tax landscape across Rutland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average North Clarendon Tax Rate
1.74%
Average Rutland County Tax Rate
1.74%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Clarendon, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05759 | 0.65% | 1.74% | 1.74% | 1.74% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across North Clarendon, Vermont
In North Clarendon, Vermont, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by local authorities for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In North Clarendon, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in North Clarendon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2,391, found in the 05759 zip code.
Property Tax Assessment Values Across North Clarendon, Vermont
Source: Ownwell
$78,800
$543,650
$1,008,500
Average North Clarendon Assessed Value
$168,300
Average Rutland County Assessed Value
$162,600
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across North Clarendon, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05759 | $41,840 | $106,750 | $168,300 | $234,050 | $298,300 |
Source: Ownwell
Property Tax Bills Across North Clarendon, Vermont
In North Clarendon, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in this area is $168,300. Property taxes are then applied to this assessed value using a specific tax rate set by the local government. Several factors influence the final tax bill, including the property's location within Rutland County and any applicable exemptions or deductions. For example, the tax bill at the 25th percentile is $1,060, while at the 75th percentile, it rises to $3,404. At the 90th percentile, homeowners can expect a tax bill of $5,464. These figures show a wide range, reflecting differences in property values and individual circumstances. The highest median tax bill in the area is $2,391, found in the 05759 zip code. Compared to the national median property tax rate of 0.99%, North Clarendon's rates can significantly impact homeowners, influencing their overall financial planning and housing affordability.
Average North Clarendon Tax Bill
$2,391
Average Rutland County Tax Bill
$2,337
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across North Clarendon, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05759 | $552 | $1,060 | $2,391 | $3,404 | $5,464 |
Source: Ownwell